US Urges Prison Time For Tax-Evading Beanie Babies Creator

Law360, New York (January 8, 2014, 2:34 PM EST) -- Federal prosecutors urged an Illinois federal judge Tuesday to imprison billionaire Beanie Babies creator H. Ty Warner for evading federal income taxes on at least $3.1 million he earned in a secret Swiss bank account with UBS AG, saying Warner was motivated by greed.

Last Tuesday, Warner urged the court to give him community service instead of imprisonment, saying he has accepted responsibility for the crime and has paid more than $65 million in restitution and penalties. But the government says Warner is simply telling the...
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